Brief: Bank Of Jinzhou To Sell Certain Credit Assets And Other Assets Held By Bank For RMB45 Billion

Bank of Jinzhou Co

03/04/2020 16:00

April 3 (Reuters) - Bank of Jinzhou Co Ltd  0416.HK :
    * APPLICATION HAS BEEN MADE BY BANK FOR RESUMPTION OF
TRADING IN H
SHARES AND OFFSHORE PREFERENCE SHARES FROM 9 A.M. ON 6 APRIL
    * CONDITIONALLY AGREED TO SELL CERTAIN CREDIT ASSETS AND
OTHER
ASSETS HELD BY BANK FOR CONSIDERATION OF RMB45 BILLION
    * CHENGFANG HUIDA CONDITIONALLY AGREED TO PURCHASE DISPOSAL
ASSETS
FROM CO
    * ESTIMATES AN OVERALL UNAUDITED IMPAIRMENT RESERVE EXPENSE
OF
ABOUT RMB30 BILLION PURSUANT TO DISPOSAL
    * ESTIMATES BANK'S DEBT INVESTMENT WILL INCREASE BY ABOUT
RMB75
BILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS4Pn7s4
Further company coverage:  0416.HK 

 ((Reuters.Briefs@thomsonreuters.com;))